6 ms·

Well, sure. Greece is a third-world country. And when you owe more than you can pay you have to cough up some assets.

• jodrellblank 15y ago
  Greece looks First-world to me: http://en.wikipedia.org/wiki/Third_World http://en.wikipedia.org/wiki/Third_World
  • tsotha 15y ago
    Meh. Outdated definition.
    • marshray 15y ago
      I was in Greece a few months ago. It's definitely not a third-world country, but it 'aint no Switzerland either.
• stayjin 15y ago
  I do not agree with you. As far as I know, the loans did not involve collateral ( at least not until now ), so investors are just entitled profits from interest and have no claim on assets. I don't know if Greece is a third-world country, but definitely the Greek government managed this crisis are such, so it looks like Greece is going to share their fate.
• krakensden 15y ago
  Privatizing too much too quickly to pay off loans is analogous to chopping off limbs when you can't pay the mob. It makes the people owed money feel better, but means that they will never really get paid back, because the debtor can no longer function.
• nradov 15y ago
  Greece is a sovereign borrower not subject to asset seizure. Their debt is not collateralized.
  • jmitcheson 15y ago
    You are thinking too literally. http://www.google.com.au/search?&q=greece+austerity+privatization http://www.google.com.au/search?&q=greece+austerity+priv...
• bragh 15y ago
  Corriere della Sera (an Italian newspaper) claimed that Finland wanted the Acropolis of Athens as collateral for their part of the loan, so yeah, you can actually ask for way too much.
  • Someone 15y ago
    Good luck with that. Half the Acropolis has been in London for the past two centuries (http://en.wikipedia.org/wiki/Elgin_Marbles http://en.wikipedia.org/wiki/Elgin_Marbles)